“While provisions to raise the debt limit and create a Congressional deficit reduction committee drew most of the attention in the legislation that allowed the government to narrowly avert a default,House and Senate leaders also used the measure to establish federal spending limits for the next two years.”

The Budget Control Act, passed by the Senate in August, set the federal budget for fiscal years 2012 and 2013 – a fact acknowledged in recent months by leading Senate Republicans:

Sen. Collins Called the Budget Control Act a “Budget Agreement” and a “Budget Plan.” “The budget agreement also requires a vote on a balanced budget Constitutional amendment by the end of the year…While I supported the budget plan recently passed by Congress, I did so with serious reservations.” [Collins Column, 8/5/11]

Sen. Grassley Called the Budget Control Act a “Budget Agreement.” “We should be doing those things not only in this budget agreement, this deficit reduction agreement, but in all the decisions we make in the Congress.” [Congressional Record, 8/1/11]

Sen. Alexander Called the Budget Control Act a “Budget Agreement.” “The budget agreement we came to in August pretty well got 40 percent of the budget under control, the part we call discretionary spending – everything from national defense to national parks. It’s only growing at about the rate of inflation over the next 10 years.” [NPR, 9/22/11]